AUD/USD Forecast January 6

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By ltan | January 5, 2014 5:49 AM EST

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Good day forex traders and readers.

In the previous AUD/USD forecast we noted that the 0.89 region played a pivotal role in the price action. Caution was recommended to pay close attention to the AUD/USD as it was too early to tell if the bearish momentum would continue.

Technical Analysis

Looking at the AUD/USD daily chart above we note that the currency pair was slightly bullish for the week. Having said so, it has eased for now.

On Monday 6 January, we are probably expecting the volume and liquidity of the markets to return. Do exercise caution as expectations and sentiments may have changed. Expect the immediate support and resistance to be the middle and last bollinger band.

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